Schering-Plough (SGP) and Merck's (MRK) Vytorin Investigation Continues

Shares of Schering-Plough (NYSE: SGP) have fallen as much as 5% today, moving below the $28 level, but have since rebounded and is currently down less than a dollar. Similarly, Merck & Co. (NYSE: MRK) fell under $59.50, down more than a percent at noon. Schering-Plough and Merck are feeling downward pressure today as the market is reacting to a letter sent by two U.S. lawmakers requesting information from Schering and Merck concerning the delayed release of data from their ENHANCE trial concluded in April of 2006.

Allegations have recently been flying that both drugmakers are withholding negative information about their trial of Vytorin, a cholesterol controlling drug. Investigations have begun, but neither Schering Plough or Merck will release the trial's principal investigator and corporate officials during the study for interviews, the main request found in the letter from the two lawmakers.

Concerns were sparked when Schering-Plough and Merck changed the Vytorin trials primary endpoint, based on an independent panel of clinicians, and extended the examination period for artery scans taken during the trial.

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